Equity markets finished lower across the board on Monday following weak corporate earnings and record high oil prices. In economic news, Empire Manufacturing for October rose to 28.8 versus consensus of 13.1. In corporate news, biotech company Biogen Idec (BIIB) rose 18.84% after the company said it has put itself up for sale as it deals with slowing growth for its multiple sclerosis drug Avonex. Light sweet crude oil for November delivery rose $2.44, to $86.13 per barrel. The DJIA fell 0.77%, while the Nasdaq dropped 0.91%.

Stocks retreated for the second straight session Tuesday as oil prices rose to a new record high, while investors digested more troubling news from the housing sector. Light crude oil deliverable in November rose $1.48, to $87.61 per barrel. In economic news, industrial production came in at 0.1%, in line with expectations. In corporate news, Wells Fargo (WFC) reported slightly higher earnings despite taking a write-down totaling nearly $500 million over mortgages that had lost value. Genentech (DNA) reported higher profits late Monday, but shares of the biotech firm lost 3% as revenue growth missed forecasts. Shares of EW Scripps (SSP) surged nearly 9% after the company said it would split into two companies, with its new firm controlling its cable TV and Internet holdings. The DJIA dropped 0.51%, while the Nasdaq fell 0.58%.

After trading higher throughout, amid strong earnings, stocks sold off to end the session mixed on Wednesday as weak housing data and political tensions weighed on the broader market. In economic news, Housing Starts in September fell to 1.19 million, below the Street estimate of 1.28 million. Building Permits in September slid to 1.23 million, less than the consensus estimate of 1.29 million. In corporate news, investors took a sell-on-the-news approach to IBM’s (IBM) better-than-expected third quarter earnings. Light crude oil deliverable in November slid $0.21, to $87.40 per barrel. The DJIA slid 0.15%, while the Nasdaq rose 1.04%.

Equity markets ended the session mixed on Thursday as rising oil prices and weak earnings kept investors on the sidelines. Light crude oil deliverable in November rose $2.07, to $89.47 per barrel. In corporate news, E*Trade Financial (ETFC) slid $1.00, or 8.02%, to $11.47, after the company issued weaker-than-expected 2007 EPS guidance. Sony Corp. (SNE) added 0.2% after the company announced it would cut the current 80GB PlayStation 3 model price by $100, to $499. The DJIA slid 0.03%, while the Nasdaq added 0.24%.

Stocks fell sharply on Friday as weak earnings and high energy prices weighed on the broader market. In corporate news, Schlumberger (SLB) fell 11.02% after the company’s third quarter North American results came in below expectations. On the upside, shares of Google (GOOG) added 0.79% after the company’s third quarter EPS surpassed Street estimates. Light crude oil deliverable in November slid $0.83 to $88.64. The DJIA slid 2.66%, while the S&P dropped 2.56%.

Equity markets finished the week in negative territory, as weak earnings and rising energy prices weighed on the broader market. For the week, the DJIA, S&P, and Nasdaq slid 4.07%, 3.92%, and 2.87%, respectively.